Car production in UK rises by 0.3%

The UK’s car production in March rose 0.3% from a year earlier, according to the Society of Motor Manufacturers and Traders (SMMT).

Overall 135,456 cars were produced in the UK in March, with over 80% of these destined for overseas markets.

The first three months of 2012 have seen car production rise by 12.3%, which, together with news that Nissan was to produce a new hatchback from its Sunderland plant, indicate the industry has had a positive start to the year.

225 jobs could be created in the factory, together with a further 900 in the supply chain, by 2014 if Nissan’s plans come to fruition.

Paul Everitt, SMMT chief executive was pleased with the figures announced, “Challenging economic conditions in mainland Europe are a concern, but the sector continues to win business in important and faster growing export markets”.

"The prospects for the UK motor industry are extremely good with new investment, commitment and jobs being created by global automotive companies”, he concluded.

Approximately one in three businesses using invoice factoring or invoice discounting across the UK are manufacturers (as of end of 2012)